East Africa Roundtable on Sustainable Finance

1 October 2007 | Nairobi, Kenya

There is a growing view that banks, insurers and asset managers have a pivotal role to play in ensuring sustainable and long term economic growth. Attention is increasingly being paid to the manner in which the financial sector provides and manages capital, whether impacts on sustainable development are considered and if contributions to society and environment are made. In addition the linkages between environment, social and governance issues and financial value are increasingly apparent. In Africa this is especially true for issues such as climate change, water scarcity and HIV/AIDS which present risks to society and economy and require urgent response. On the opportunity side microfinance and provision of sustainable financial services to the poor offer African financial institutions new horizons for growth. “Sustainable Finance” has become the all-encompassing term used to describe the manner in which the financial sector responds to the opportunities and challenges of these issues. Leading financial institutions are beginning to respond by developing strategies, related products and expertise. Nevertheless there is often a general lack of clarity on business cases and reasons for sustainable finance as well as confusion as to how this relates to mainstream financial operations. To provide clarity to this area the UNEP FI African Task Force (ATF), a public private partnership between UNEP and the finance sector, convened a high level group of experts to discuss sustainable finance and responsible investment in Africa. The event, kindly supported by Citigroup, welcomed over 50 financial sector, government and NGO delegates from Kenya and Uganda. Roundtable discussions focused on concepts of sustainable finance and were held to enable delegates to deepen an understanding of responses the finance sector can take. It is hoped discussions will provide a fruitful platform from which financial institutions in East Africa can embrace their role in sustainable development.

Documents

Workshop ReportPlease contact the UNEP FI Secretariat if you would like to have a copy of the report.